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THOMAS POWIS ALMSHOUSES TRUSTEES ANNUAL REPORT and ACCOUNTS
For the year ended 31[st] December 2022
Receipts and Payments Account Page 1 Analysis of Movement in Funds Page 2 Statement of Assets and Liabilities Page 3 Accounting Policies Page 4 Trustees Annual Report Page 5
THOMAS POWIS ALMSHOUSES Page 1 Registered Charity number 217260
RECEIPTS AND PAYMENTS ACCOUNT4 For the year ended 31[st] December 2022 (with comparisons for 2021)
| RECEIPTS | 2021 | 2022 | PAYMENTS | 2021 | 2022 |
|---|---|---|---|---|---|
| Maintenance & heating |
25555 | 26909 | Gas heating | 3787 | 3882 |
| COIF | 3206 | 3290 | Electricity | 558 | 805 |
| NAACIF Income Units |
1419 | 1505 | TV Licence | 38 | 45 |
| Sub total | 30180 | 31704 |
Water Rates |
2898 | 3074 |
| Gas refund | - | 454 | Repairs & Decoration | 3094 | 687 |
| SWALEC refund | - | 2 | Electrical & plumbing | 300 | 781 |
| TOTAL RECEIPTS | 30180 | 32160 | MCC Waste bags | - | - |
| Garden Maintenance | 341 | - | |||
| Insurance | 2201 | 2386 | |||
| Sermon Church In Wales | - | - | |||
| Almshouses Assoc | - | 187 | |||
| Carmichael Gifts | - | ||||
| Christmas Gifts | 161 | 120 | |||
| Fire Protection | 199 | 175 | |||
| Audit | 60 | 60 | |||
| Advertising | - | - | |||
| Honorarium | 3858 | 3844 | |||
| Overpayment rent MCC | - | ||||
| Stationery, phone etc | 160 | 152 | |||
| Gas annual service & Care Plan |
615 | - | |||
| Refurbishment of flats | 60 | 3928 | |||
| Petty cash | 180 | - | |||
| TOTAL PAYMENTS | 18510 | 20126 | |||
| EXCESS REC/PAY | 11670 | 12034 | |||
| TOTAL RECEIPTS | 30180 | 32160 | |||
Approved on behalf of the Trustees
Chairman: ……………………………………. Date:……………………………………
THOMAS POWIS ALMSHOUSES Page 2 Registered Charity Number 217261
MOVEMENT IN FUNDS For the year ended 31[st] December 2022 (with comparisons for 2021)
Analysis of movement in funds 2021 2022
| Balance 1stJanuary | 53417 | 64702 |
|---|---|---|
| Outstandingcheque cleared | 385 | |
| Sub total | 53032 | 64702 |
| Excess of receipts/payments | 11670 | 12034 |
| C/FWD | 64702 | 76736 |
| Balance 31stDecember | 64702 | 79194 |
| Outstanding cheque | 2458 | |
| C/FWD | 64702 | 76736 |
| Cyclical Repair Fund–Restricted Fund | ||
|---|---|---|
| Balance 1stJanuary | 2306 | 2306 |
| Interest earned | 2 | |
| Balance 31stDecember | 2306 | 2308 |
| - | | | |
Approved on behalf of the Trustees
Registered Charity Number 217261
STATEMENT OF ASSETS AND LIABILITIES For the year ended 31[st] December 2022 (with comparisons for 2021)
Cash at bank and investments at market value
2021 2022
| Total | Restricted Fund |
|||||
|---|---|---|---|---|---|---|
| 64702 | Barclays Bank operating account | 76736 | ||||
| 2306 | Cyclical Repair Fund National Savings Bank |
2306 | ||||
| 77852 | The National Association of Almshouses Accumulation units – extra ordinary repair fund |
78467 | 78467 | |||
| 39205 | Income Units Miss F Williams Legacy | 37983 | ||||
| 124513 | CharitiesOfficial Investment Fund Income Units |
No of Units |
Market Value |
110037 | ||
| Undesignated fund | 3520.15 | 63888 | ||||
| John Hylton Watts | 779.60 | 14149 | ||||
| S.I. | 486.77 | 8835 | ||||
| Miss M Gillat | 436.09 | 7915 | ||||
| J M Curre | 402.00 | 7296 | ||||
| Carmichael Bequest | 268.00 | 4864 | ||||
| Trevor Jenkins-gift | 170.26 | 3090 | ||||
| Total COIF Investment | 110037 | |||||
| 308578 | 305529 | 78467 |
Tangible Fixed Asset
Land situated at Bridge Street Chepstow with Almshouse building thereon - insured value £1,308,037 ( 2021 £1,193,679)
Approved on behalf of the Trustees
Chairman…………………………………… Date…………………………..
THOMAS POWIS ALMSHOUSES Page 4 Registered Charity Number 217260
ACCOUNTING POLICIES Year ended 31[st] December 2022
-
The accounts have been prepared under the historical cost basis as modified by the revaluation of investments and in accordance with the Charities (Accounts and Reports) Regulation 1995
-
Income and expenditure has been dealt with on a cash basis
-
Legacy income is reported on a cash basis and recorded when notified and remitted to the Charity
-
Investments arising from bequests are recorded at market value at the financial year end
-
Under section 41(1) of the Charities Act 1993 (as amended) the Trustees shall ensure that accounting records are kept in respect of the charity which are sufficient to show and explain all the charity’s transactions and to
-
(a) disclose at any time, with reasonable accuracy, the financial position of the charity
and
(b) enable the Trustees to ensure that where any statements of accounts are prepared by them under section 42(1) and (3) those statements comply with the requirements of regulations under that provision
THOMAS POWIS ALMSHOUSES Page 5 Registered Charity Number 217260
The Charity constituted by a body of trustees operates under a Charity Commission scheme dated 7[th] March 1961 and provides eight rented accommodation units for persons who have resided in the Parish of Chepstow for not less than three years and so far as practical one half of the Almspeople shall be men and one half women.
The body of Trustees totaling eight shall consist of one ex-officio member who shall be the Vicar of the Ecclesiastical Parish of Chepstow and seven co-optative trustees who shall be persons residing or carrying on business in or near the parish of Chepstow and be appointed for a term of five years.
The names of the Trustees who served during the period Jan1[st] 2021 to December 31[st] 2022 were:
Mr K Higgs Mrs N Shaw Mrs N Colley-Priest Mr Martin Somerville
The address of the Charity is: The Vicarage, 25 Mount Way, Chepstow, Monmouthshire. NP16 5NF
Financial and operating information
The market value of investments at 31[st] December 2022 decreased by £ 15083 (6.25%) compared with the increase in 2021 which was £27830 (12.88%)
Other information
Units were empty for 11 weeks for refurbishment
Bank
Independent Examiner
Mr P Bennett, 22 Clearview, Shirenewton, Monmouthshire NP16 6AX
On behalf of the Trustees
Chairman…………………………………………. Date:………………….
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THOMAS POWIS ALMSHOUSES
I report on the accounts of the Charity for the year ended 31[st] December 2022 which are set out in pages 1 to 4
Respective responsibilities of the Trustees and examiner
As the Charity’s Trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (as amended) (the Act) does not apply. It is my responsibility to examine the accounts (under section 43(3) (a) of the Act and state on the basis of procedures specified in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a revue of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
- 1) which gives me reasonable cause to believe that in any material respect the requirements
a) to keep accounting records in accordance with section 41 of the Act (as amended) and
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act (as amended)
have not been met, or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
…………………………………………….. Date:……………………………
Mr P Bennett 22 Clearview Shirenewton Monmouthshire